JaneC8 (Pennsylvania)
Posts: 6
Posts: 6
Posted:
Your advise and suggestions would be appreciated
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How do we go about finding a reputable management co. for our HOA
Started by JaneC8 • 8 replies • 1350 views
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MichaelF17 (South Carolina)
Posts: 13
Posts: 13
Posted:
JaneC8
The most reputable management of your HOA is the Members. If the Members choose to not be involved then someone else will and the Members will have to endure the consequences.
The most reputable management of your HOA is the Members. If the Members choose to not be involved then someone else will and the Members will have to endure the consequences.
JaneC8 (Pennsylvania)
Posts: 6
Posts: 6
Posted:
Are you suggesting that the board take over the roles and responsibilities of the management company? I would guess that it would involve a lot of adminitsration and knowledge of HOA laws in our State.
NpS (Pennsylvania)
Posts: 4,216
Posts: 4,216
Posted:
A good place to start:
http://www.cai-padelval.org/directory/category/management-companies
http://www.cai-padelval.org/directory/category/management-companies
Sikubali jukumu. Read all posts at your own risk.
JonD1
Posts: 2,350
Posts: 2,350
Posted:
I would do a local search for management companies in your area.
I would contact them, ask for a list of the properties they manage and then visit those properties, contact board members and sk for their input.
Ask for references and their contact info.
Driving into a property would tell you much about who and how it is managed. Is this the way you would like your community to look?
I would contact them, ask for a list of the properties they manage and then visit those properties, contact board members and sk for their input.
Ask for references and their contact info.
Driving into a property would tell you much about who and how it is managed. Is this the way you would like your community to look?
JohnC46 (South Carolina)
Posts: 14,265
Posts: 14,265
Posted:
Quote:
Posted By JonD1 on 06/03/2016 3:41 PM
I would do a local search for management companies in your area.
I would contact them, ask for a list of the properties they manage and then visit those properties, contact board members and sk for their input.
Ask for references and their contact info.
Driving into a property would tell you much about who and how it is managed. Is this the way you would like your community to look?
I would do a local search for management companies in your area.
I would contact them, ask for a list of the properties they manage and then visit those properties, contact board members and sk for their input.
Ask for references and their contact info.
Driving into a property would tell you much about who and how it is managed. Is this the way you would like your community to look?
The above is sound advice. The first question I would ask any Management Company is how many similar to our association (units and yearly budget) do you manage?
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
While you may not have the time to run it yourselves, someone who is on the selection committee should know exactly how an HOA should be run.
TimB4 (Tennessee)
Posts: 21,063
Posts: 21,063
Posted:
Jane,
I think the first thing you should do is write up exactly what you want a Management company (MC) to do. This statement of work will be lay out clear expectations and be the basis for any contract you enter into. You may find out that you don't need an MC but may only need a bookkeeper or a property manager to oversee specific items (which can be other options to look into)
The second thing would be to send out a request for proposal (RFP) to various management companies along with your statement of work. This will allow the MC to propose to you how they would accomplish what you expect and what it would cost. To identify who to send the RFP to, check with neighbor Associations who have an MC and see what they like and don't like about the company they use.
Once you narrow the field down, you should check references and do research into the company (are there complaints about them on the internet, BBB ratings, etc.).
When your ready to sign, remember that contracts are negotiable prior to signing. Be willing to suggest changes to anything you don't like. If you like company A but prefer the price company B offers, don't be afraid to ask if Company A will match the price (just don't tell them the name of Company B). We actually saved $10,000 a year on our Trash/recycling contract doing this.
Here are some links that may help:
[SAMPLE] RFP for HOA Management Company from HOALeader
Subject: Property Management Interview Suggestions an past thread on this forum
Quackit homepage
Homeowner Association Management Contracts from the Americanbar (legal site)
Here are various RFPs for MC from different HOAs:
REQUEST FOR PROPOSALS HOA MANAGEMENT
REQUEST FOR PROPOSALS # 4332
Quackit homepage
REQUEST FOR PROPOSALS FOR COMMUNITY ASSOCIATION MANAGEMENT SERVICES
Hope this helps,
Tim
I think the first thing you should do is write up exactly what you want a Management company (MC) to do. This statement of work will be lay out clear expectations and be the basis for any contract you enter into. You may find out that you don't need an MC but may only need a bookkeeper or a property manager to oversee specific items (which can be other options to look into)
The second thing would be to send out a request for proposal (RFP) to various management companies along with your statement of work. This will allow the MC to propose to you how they would accomplish what you expect and what it would cost. To identify who to send the RFP to, check with neighbor Associations who have an MC and see what they like and don't like about the company they use.
Once you narrow the field down, you should check references and do research into the company (are there complaints about them on the internet, BBB ratings, etc.).
When your ready to sign, remember that contracts are negotiable prior to signing. Be willing to suggest changes to anything you don't like. If you like company A but prefer the price company B offers, don't be afraid to ask if Company A will match the price (just don't tell them the name of Company B). We actually saved $10,000 a year on our Trash/recycling contract doing this.
Here are some links that may help:
[SAMPLE] RFP for HOA Management Company from HOALeader
Subject: Property Management Interview Suggestions an past thread on this forum
Quackit homepage
Homeowner Association Management Contracts from the Americanbar (legal site)
Here are various RFPs for MC from different HOAs:
REQUEST FOR PROPOSALS HOA MANAGEMENT
REQUEST FOR PROPOSALS # 4332
Quackit homepage
REQUEST FOR PROPOSALS FOR COMMUNITY ASSOCIATION MANAGEMENT SERVICES
Hope this helps,
Tim
KerryL1 (California)
Posts: 14,550
Posts: 14,550
Posted:
JonD & JohnC offer very good advice. And I'm sure Tim's citations will be helpful.
Curious: What size HOA is yours? Detached homes, or? Many recreational amenities or other "extras"?
Curious: What size HOA is yours? Detached homes, or? Many recreational amenities or other "extras"?
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